The best way to attract and retain clients is by delivering consistent value. People love getting a great deal, whether they’re buying or selling, and they adore telling their friends and family about it.
Top real estate agents also feel a responsibility toward their clients. They’re dedicated to helping them discover the perfect property, avoid emotional decisions, and make the smartest possible investment.
But how do you ensure customer satisfaction in an ever-shifting market? It’s all about doing your research, open communication, and building your negotiation skills.
Let’s take a deeper look at some strategies for the coming year that will enable you to provide stellar customer service, generate qualified leads, and land the best deals for your people.
Knowledge is Power
It’s more important than ever to keep your finger on the pulse of your local real estate market, regional news, and the overall economic outlook.
While pundits are quick to go into doom-and-gloom mode, we’re simply experiencing a market rebalancing and normalization from the out-sized high housing prices of the past couple of years. In some markets, home prices did not escalate as quickly, and while transaction volume may be reduced in 2023, prices may not experience downward movement at all.
The Chicagoland and Wisconsin housing landscape remains stable and affordable for most homebuyers — and the Midwest region is particularly attractive for Millenial and Gen Z remote workers who are looking for communities with a reasonable cost of living.
A big challenge for brokers in 2023 will be the lingering lack of inventory. But a combination of traditional methods, new technology, and highly creative thinking will give you a competitive edge when it comes to finding promising leads for your clients.
Leveraging multifunctional real estate-oriented software is also an effective way to stay in touch with both your customer base and the housing market. An AI-powered tech stack can collect and analyze data, help you grow your network and get organized, boost your social media presence, and so much more.
Learn about the latest mortgage products, FHA and USDA home loans, and first-time home buyer or down payment assistance programs available in your area. These could give your clients more purchasing power and open up more opportunities for the perfect deal.
Communication and Collaboration
Consumers crave transparency in their business dealings. No one wants to feel as if they’re being kept in the dark or hoodwinked. Whether you’re working with a buyer or seller, your deals will go much further with open and honest communication.
While CRM (customer relationship management) software can help you reach more people overall, invest time in giving your people personalized attention. Get to know your clients, really listen to them, and understand their needs and perspectives. Reach out via their preferred method of communication, whether it’s a video call or a WhatsApp message.
It’s vital to set expectations right from the start. Don’t make promises you can’t deliver on, and convey realistic timelines, goals, and expenses in writing. Transparency builds trust.
Client education is key. You’re the subject matter expert, so it’s up to you to ensure your customers understand every aspect of this major financial decision.
Building and strengthening your network is also a crucial part of making the most beneficial deals. Your contacts are an invaluable resource for sourcing inventory, smoothing the process, and offering unbeatable incentives for a successful closing.
Hone Your Skills
The Chicagoland and Wisconsin real estate landscape is robust but also constantly evolving. Comparative market analysis is a critical tool for agents to help set realistic expectations for buyers and sellers, but achieving your goals often comes down to your negotiating abilities.
According to Harvard Business School, the most effective bargainers are skilled at both creating value and claiming value. Solutions that benefit both parties are always the preferable outcome.
Here are three main ways to add value in a negotiation:
- Establish trust by sharing info and understanding the priorities on both sides.
- Find where your goals are complementary instead of at odds.
- Be flexible.
In today’s volatile market, property owners and potential buyers can come to the bargaining table with some unusual demands. But when you’re prepared with a win-win mindset, you’re far more likely to reach an advantageous agreement for everyone.
Find the Right Partner
Sealing an unbelievable deal for your client helps ensure your business continues to grow. Word-of-mouth referrals are priceless when it comes to organic development — people love to brag about the agent who got them their dream home or an amazing sales price.
Working with a solid real estate team helps you deliver a seamless experience for your clients through the property buying process and beyond.
At Landtrust Title Services, we offer a spectrum of services and resources for agents, attorneys, and commercial real estate investors. Contact us today to learn more about partnering with our experienced team.